Home Loan Balance Transfer Calculator| Bajaj Finserv

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It is ideal to use a Balance Transfer Calculator to assess the possible savings of transferring the remaining home loan balance. Follow the simple steps mentioned below and use the Balance Transfer Calculator easily.

First, share the name of the lender of the existing loan
Mention the loan tenor, specifying the starting and ending dates
Next, enter the location of the property
After that, set the values for the total loan amount sanctioned, remaining repayment tenor and the existing home loan interest
Finally, specify the interest rate of the lending institution to where the balance transfer is intended and click on apply

Using a balance transfer calculator is crucial if you are willing to save on interest and to assess whether, at all, the balance transfer is worth it.

Some of the key benefits of using a home loan balance transfer calculator are discussed below:

It is easy to use and doesn’t require any expert assistance. One only needs to input some key details, such as the existing interest rate and tenor
Using a home loan balance transfer calculator helps one understand the savings that can be made after the balance transfer
One an individual uses a balance transfer calculator, he/ she can also get an idea of the expected EMIs payable after the balance transfer
Also, individuals can get an idea about the possible returns if the savings due to home loan balance transfer are invested
With a home loan balance transfer calculator, individuals can also know the expected repayment tenor after the switchover and take an informed decision accordingly

FAQs about home loan EMI

A home loan balance transfer calculator is a free online tool that allows you to calculate the amount of money you will save if you opt for a balance transfer.

Yes, a home loan can be transferred from one individual to another. This is done during transferring ownership but there are special conditions that must be met. For one, the new borrower must be eligible for a home loan.

The best time to consider a home loan balance transfer is when you’re servicing a loan at a much higher rate than the prevailing market rates. A minor difference in rates may not lead to significant savings but if you can repay at a much lower interest rate, you should consider transferring.

Transferring your home loan to Bajaj Finserv is a quick and hassle-free process. With the help of online loan provisions and the quick loan processing feature, a transfer can take anywhere between 5 and 10 days. This ensures minimal delays and allows you to start repaying your home loan at a better rate quickly.

Home Loan Balance Transfer Calculator